SECTION C - INCOME PROTECTION BENEFITS
TOTAL DISABILITY BENEFIT
1
If, the Life Assured :
• has been Totally Disabled or Partially Disabled for the Waiting Period ; and
• is Totally Disabled at the end of the Waiting Period ,
We will pay you the monthly Benefit subject to Clause 5 “Offsets” under Section D of this Policy in advance from the end of the Waiting Period until the earliest of when:
• the Life Assured is no longer Totally Disabled ; or
the Benefit Period ends; or
•
• the Policy ends. Any payment for a period of less than one month is calculated on a pro-rata basis. Successive periods of disability resulting from the same or related cause within twelve (12) months of resuming work shall be considered a continuation of the same disability and no Waiting Period shall apply. Such periods of recurrent disability shall be added to the original Total or Partial Disability period for the purposes of applying the Benefit Period . We will pay a Partial Disability Benefit if the Life Assured is Partially Disabled (as defined in Clause 2 “Partial Disability” under Section D below) and the Waiting Period has elapsed. To allow Us to accurately assess the ongoing validity of a partial disability claim, the Partial Disability Benefit will be paid monthly in arrears from the end of the Waiting Period until the Life Assured is no longer Partially Disabled .
RECURRENT DISABILITY BENEFIT
2
PARTIAL DISABILITY BENEFIT
3
This Partial Disability Benefit equals:
(A - B) / A) * C where
A = Average monthly Pre-disability Income B = Average monthly Post-disability Income C = The monthly Benefit amount
We will then subtract the total of any other income replacement or any other form of employer remuneration or sick leave entitlements being received for the Life Assured from any other sources in relation to the same disability. Payment of the Partial Disability Benefit is always subject to Clause 5 “Offsets” under Section D of this Policy . During a period of Total Disability , Recurrent Disability or Partial Disability for which We have accepted a claim, all Total Premiums due will be waived by Us . If the Policy Schedule shows You have selected this option, the Income Protection Benefit will increase on each anniversary of the Policy Commencement Date by an amount equal to the Consumer Price Index Increase for the year ended 30 September
WAIVER OF PREMIUM
4
INFLATION ADJUSTABLE OPTION
5
PC-IP- 05/2026
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